Klarna picks New York for upcoming IPO
Swedish buy now, pay later (BNPL) giant Klarna has chosen the US for its much-awaited initial public offering (IPO).
Klarna picks New York for IPO
The fintech revealed this week that it has submitted an application to the US Securities and Exchange Commission (SEC) for the “proposed initial public offering of its ordinary shares”.
Speculation over whether Klarna would choose New York or the London Stock Exchange for its highly anticipated stock market debut has been circling for the past year after Klarna established a UK holding company last November. However, in a statement made to FinTech Futures at the time, a Klarna spokesperson clarified that no final decision had been made regarding the timing or location of the IPO.
The company has yet to disclose the number of shares or the expected price range for its offering. Klarna states that the IPO is anticipated to proceed “after the SEC completes its review process, subject to market and other conditions”.
Founded in 2005, Klarna is reportedly poised for a multibillion-pound valuation in its upcoming listing.
Over the last year, the fintech has taken several strategic steps ahead of its stock market debut, including acquiring the assets of New Zealand-based BNPL fintech Laybuy and selling off its UK loan portfolio and Klarna Checkout, its online payment service, to streamline operations.
